Clay Development Launches 1.5M SF of Spec Industrial
Clay Development & Construction has snapped up nearly 80 acres on Borusan Road and FM 1405 in the Cedar Port Industrial Park in Baytown.
It'll break ground on the first of three 500k SF industrial buildings this month, without major tenants or buyers. Cedar Port Distribution, Phase 1 (rendered below, it's at 4830 Borusan Rd) will deliver in August.
Clay's Charlie Christ (who repped the landlord and is handling development, sales and leasing for Cedar Port Distribution Park) tells us the firm's betting on the Southeast market as cheap natural gas drives a boom in Gulf Coast plastic resin production. Combined with expansions in the Port of Houston and Panama Canal, he believes it's a good time to fill spec industrial, including retail distribution centers.
Clay also purchased 23 acres closer to Highway 99 at the front of the park; Charlie tells us it'll be used for smaller distribution or manufacturing buildings. A portion will have rail access.
NAI Partners' John Simons, Joel Michael and John Feruzzo repped the seller, TGS Cedar Port Partners.
Robert Clay is speaking at our Houston Industrial event in February--don't miss it!